B K Birla: Going strong at 85
30 September 2006
B K Birla, chairman, B K Birla Group of companies, may have crossed 85, but has still not slowed down. He is going ahead with expansions planned in cement, textiles and paper. CNBC-TV18 shares with domain-b its exclusive interview with Birla.
B K Birla, chairman of the B K Birla Group of Companies plans to expand its cement and paper business. Birla says that the company will increase its cement capacity at a cost of about Rs1,000 crore.
Birla further adds that the new textile mill could cost about Rs580 crore. Also, the company would finance expansions via internal accruals and debt. He also says that the company would halve the number of textile looms from 1,100 in one year.
Birla also affirms that they have no problems with Wadias over the land issue. He says that the land agreement is clear and it can go ahead with plans.
Birla is unsure of how long cement prices will stay firm. Birla feels that textiles is not a lucrative business in Mumbai.